RE: Bad days!20 Dec 2018 22:27
Always a good sign when the trashtalkers are about ;)
Whichever way you put it, its still £30m mcap vs £400m net asset
Anyway, page 18 of interims:
"In the event of a potential breach in covenants, the Group would approach the members of the banking
syndicate to seek a waiver from covenant testing for that period. The Directors believe that given our strong
banking relationships the banks would agree to grant any such waiver if required."
Wouldn't be surprised to see 100%+ from these levels... DYOR
"The Board is confident that the strong pipeline of contract tenders in the Middle East should eventually lead to an increase in charter rates. The Group's fleet is one of the youngest and well invested in the industry, with an expected future useful life of more than 25 years, which means GMS is well-placed to capitalise on a market recovery when it does materialise."